5 Year Fixed Rate Mortgage (up to 65% LTV*) - F439

The interest rate for this product is
fixed for five years, this means you can plan your finances with more
certainty. At the end of the fixed rate period the interest rate will
revert to our Standard Variable Rate.

Your home may be repossessed if you do not keep up repayments on your mortgage. Think carefully before securing other debts against your home.

Interest Rates:

For House Purchase

Period of loan

Rate Payable

Additional Information

Months 1-60

1.94% Fixed Rate

£999 Product Fee - can be added to the loan

Month 61 onwards

Standard Variable Rate Currently 4.99%

The overall cost for comparison is:

3.8% APRC

Product Code: F439

Key Features:

Product Fee

£999 Product Fee

Maximum Loan to Value %

The maximum loan to value is 65% plus product fee.

Loan Size

£30,000 to £500,000

Repayment Type

Mixed Repayment/Interest only mortgages will be considered. For new borrowers the interest only element cannot exceed 50% LTV. Existing Society borrowers will be allowed to transfer their existing interest only loan if they move house but any additional borrowing must be on a repayment basis. All borrowers will be required to provide evidence of how they intend to repay interest only loans.

Early Repayment Charge

During the first 5 years any additional amount repaid above the 10% permitted will be subject to an Early Repayment Charge of 5% of the amount repaid in year 1, 4% of the amount repaid in year 2, 3% of the amount repaid in year 3, 2% of the amount repaid in year 4 & 2% of the amount repaid in year 5.

Overpayments

Regular overpayments are not permitted during the first 5 years from completion. You may make capital repayments of up to 10% of the original sum borrowed in each of the first 5 years without an early repayment charge. Following receipt of a lump sum payment, the amount that you owe, and so the amount of interest you pay, is reduced immediately.

Further Information:

*For Remortgages, the maximum Loan
to Value is the amount of a mortgage loan expressed as a percentage of
the value of the property against which the loan will be secured.

Available in England and Wales.

If
you move house during the fixed period you may be able to transfer these
product terms, up to the amount of this loan. You can only transfer
these terms if you occupy the new property, the Loan to Value must be no
greater than 65% and it is within England & Wales. The new loan
must complete at the same time you redeem this loan and you must still
meet the Society’s lending criteria at that time. An Early Repayment
Charge will apply if you do not take out a new loan with the Society;
the new loan does not meet the criteria for this product; or the new
loan is for less than this loan.

Our remortgage products are available to new borrowers who are looking to switch their mortgage from another lender.

For loans greater than £500,000 please contact us.

Mortgage interest is calculated on a daily basis.

Our Tariff of Mortgage Charges
gives details of the charges payable in connection with mortgage
applications and additional administration following completion of your
loan.

Loans
available to persons aged 18 or over and are subject to status and
valuation of a suitable property, over which security will be required.
All lending will be subject to appraisal of the financial standing of
the applicants.

Representative example:

A
mortgage of £179,884 payable over 22 years and 7 months initially on a
fixed rate for 5 years at 1.94% and then on our current variable rate of
4.99% for the remaining 17 years and 7 months would require 60 monthly
payments of £820.30 and 211 monthly payments of £1,044.61.

Monmouthshire
Building Society is authorised by the Prudential Regulation Authority
and regulated by the Financial Conduct Authority and the Prudential
Regulation Authority. Financial Services Register Number: 206052.

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